Srivaddhanaprabha died tragically along with four others when his private plane crashed out of the stadium shortly after the last home game against West Ham United on 27 October.
The memorial walk on the ground was led by the injured duo Harry Maguire and James Maddison before the club's first home game since his death.
Harry Maguire wrote on Twitter: "I just finished #WalkForVichai, incredible support, a special day for a fantastic man."
The idea for the walk came from young supporters Megan Elliott, 14, and his sister Casey, 11, who initially appealed to 5,000 fans to march to the stadium in honor of the Thai billionaire.
Megan said: "I never thought it would end this way.
"When we met Vichai in Madrid [during a tie against Atletico Madrid] she was adorable, cheerful and happy.
"Today he shows how much he is loved and respected, not only from the club but from the whole community".
Willie Thorne, the Snooker player and Leicester fan, directed the opening speeches, said: "Today it's about celebrating Vichai's life".
The players paid homage and warmed up with the T-shirts with the face of Vichai Srivaddhanaprabha, reading "The Boss".
A two-minute silence was held before the game and the players wore black bracelets, their day shirts had the name of Khun Vichai embroidered on them during the first half, while the second half shirts had the poppy symbol, for commemorate 100 years since the end of World War one.
At the King Power Stadium, fans received scarves with "forever in our hearts" printed on them along with badges, battles and programs in a touching tribute to their former owner.
Former executives Claudio Ranieri, Craig Shakespeare and Nigel Pearson were also present.
Earlier this week and the investigation heard that there were "little chance" for anyone on board the helicopter to survive.
Staff and players including striker Jamie Vardy, goalkeeper Kasper Schmeichel and captain Wes Morgan attended the emotional funeral on Monday in Thailand.
Yesterday Leicester City also announced plans to build a president's statue at the King Power Stadium.